First Solar公布2018年第三季度财务业绩

发布于 2018年10月30日
First Solar 
- Net sales of $676 million
- Net income per share of $0.54
- Cash and marketable securities of $2.7 billion, net cash of $2.3 billion
- YTD net bookings of 5.2GWDC; 1.1GWDC booked since prior earnings call
- Series 6 commercial shipments commenced from third factory location
- Earnings guidance lowered primarily due to timing of systems project sale

First Solar, Inc. today announced financial results for the third quarter of 2018. Net sales for the third quarter were $676 million, an increase of $367 million from the prior quarter primarily due to ongoing construction activities at the California Flats project and the sale of the Willow Springs and Manildra projects.

The Company reported third quarter earnings per share of $0.54, compared to a loss per share of $(0.46) in the second quarter. Net income increased compared to the prior quarter primarily due to improved net sales, the mix of higher gross profit projects, and lower operating expenses.

Cash and marketable securities at the end of the third quarter decreased to $2.7 billion from $3.1 billion at the end of the second quarter. The decrease primarily resulted from ongoing capital investments in Series 6 manufacturing capacity, ongoing factory ramp activities and the timing of cash receipts from certain systems project sales.

"We had good execution in the third quarter as we closed the sales of certain key projects and delivered solid financial results," said Mark Widmar, CEO of First Solar. "In addition, with the start of Series 6 production at our Vietnam factory we now have three locations manufacturing our most advanced product. Demand for Series 6 continues to be resilient as demonstrated by bookings of 1.1GWDC since our prior earnings call. This brings our total contracted volume to 11.3GWDC and provides us with a strong competitive advantage as we move forward."

Guidance ranges for 2018 have been updated as a result of lower expected module sales, higher manufacturing ramp costs and the revised expectation that the Ishikawa project in Japan will now be sold in 2019. The complete update to 2018 guidance is as follows:


1. Includes approximately $100 million of ramp costs
2. Includes approximately $90 million of production start-up expense
3. Defined as cash and marketable securities less expected debt at the end of 2018


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